If you are someone who has heard the terms, Phishing, Identity Theft, Internet Fraud etc then you must read this article.
So, lets get started!!!
What is Internet Fraud?
Internet Fraud is an illegal activity wherein a person in possession of internet banking details of another person, impersonates them to use their funds.
A Simple example would be:
Lets say, I find your wallet on the floor and while scanning it, I see a paper with an id and password. By seeing the Id I realize that it is your Internet Banking id & Password for your ICICI Bank account. I happily login to your account and transfer the money in your account to my account.
This is Internet Fraud...
Why Internet Fraud Happens?
Well, criminals are becoming more and more techie and finding out ingenious ways of stealing money. Most internet frauds result from poor customer awareness. The biggest concern for online customers is the possible theft of their online credentials, especially those relating to net banking.
This often happens without the customers’ knowledge, enabling fraudsters to steal money from their accounts in a recurring manner.
How to Prevent This?
Awareness...
We must be careful and follow certain tips & tricks to ensure that we do not fall prey to such anti-social elements.
Tip 1:
Make net banking passwords difficult to guess, change them regularly. Never share them with anyone.
Tip 2:
Before keying in sensitive information like user id or password, ensure the site is running in a secure mode by looking for the padlock symbol and https in the browser address bar. For example, look at the image below:
Tip 3:
Scan email attachments for viruses before opening them. When you are not sure about the source of an attachment, delete it. Dont have a second thought.
Tip 4:
Install a good anti-virus system on their PCs and ensure that it is updated regularly. There are many free anti-virus softwares available in the market. I am not saying that they are bad, but they might not have the resources of a paid anti-virus software like Symantec or Mcaffee.
Tip 5:
Don’t share your password or CVV details orally with bank executives either in person or on phone. Bank officials will never ask for confidential information like user ID, password, CVV, etc, via mail, SMS or bank initiated phone calls.
Tip 6:
Don’t access bank website from a link provided in an email from any source. Instead, type the address of the bank website in the address bar of browser to access the bank account. Don’t click on any link provided in emails, they may redirect users to a fake/phishing site.
Example:
www.icicibank.com
If you see the above link, it says www.icicibank.com but if you take your mouse pointer over it, you can see that the link actually is taking you to a scam website and not the icici website. If this page looks exactly like the ICICI website, you may enter your login details and kabooom, your id/password is stolen and only god can save the cash in your account.
Tip 7:
Never write down user ID, password on piece of paper or store it in your phone for easy retrieval.
Tip 8:
Never use the ‘remember password’ feature provided by browsers to save net banking passwords.
Tip 9:
Don't access Net banking from cyber cafes. If you have to, use the virtual key board to key in details and ensure you log out of the system once you are done. An even better idea would be to clear the browser cache & cookies before you log-off.
Tip 10:
Be cautious while using Net banking from office. Even though your colleagues are all nice people and you respect/trust them, you never know when temptation or jealousy can cause people to do things. Better safe than sorry
Happy Protecting your Money!!!
U r blogs gives lots of useful information....Why dont u suggest how to d trading by demat accounts...And how to analize techinacal and fundamentals of a comapny....
ReplyDeleteNEW PENSION SCHEME CHALLENGED
ReplyDeleteNew Pension Scheme for railway employees challenged
The new pension scheme introduced by the Union Government for railway employees has been challenged in the Madras Bench of the Central Administrative Tribunal.
An employee of the southern railway and Dakshin Railway Employees Union (DREU) have challenged the scheme terming it unconstitutional and invalid.
According to the new scheme, employees appointed on or after 01.01.2004 in the Railways would be governed by the new pension scheme which would be governed by 'Pension Fund Regulatory Development Authority' which would function under the overall control of Ministry of Finance. According to the new scheme, 10% of Pay and DA of an employee would be deducted and an equal amount would be contributed by the central government.
The entire pension scheme is being authorized through various executive orders, which cannot be done to govern the retirement benefits of government employees which has to be in tune with Articles 41 to 43 of the Constitution, alleges the application. The notifications issued by the government constituting PFRDA dated 10.10.2003 and 14.11.2008 are unconstitutional, as they have not been issued by the President of India and authenticated as required under Article 77 of the Constitution and the ordnance sanctioning this also lapsed in 2005, which renders the entire process without authority of law alleges DREU in its application.
The new pension scheme, which is mandatory to government employees curtails them from exercising any option said V. Daniel, a Helper in Southern Railway. According to the New Pension Scheme, any citizen of India can join the Scheme and they can choose their Fund Managers or opt for different schemes whereas no such option is available to government servants.
The application also raised serious apprehension over the way in which their funds are being exposed to market risk and they cite the risk clause in the offer document of the NPS which says that "there are no guarantee on investments and investments involve risks such as trading volumes, settlement risk, liquidity risk, default risk, including possible loss of principal'. The application also cited the statement of PFRDA Chairman that pension fund managers regulated by PFRDA are not giving minimum guarantee on returns in their products.
Besides seeking quashing of the notification and grant retiral benefits to all employees on par with those who joined prior to January 1994, the application sought an interim injunction against the notification and also to release family pension and gratuity to certain employees who died after the introduction of the new scheme.
The matter came up before the Madras Bench of the CAT comprising Members K. Elango and R. Satapathy. Counsel R. Vaigai advanced arguments on behalf of the DREU and highlighted how the funds of the employees are being entrusted with private players and are subjected to undue risks. She also apprised the Bench that the government as an employer cannot transfer its funds to a private player and expect him to discharge government's obligation.
After hearing the arguments on behalf of the applicant and of the central government, the Bench ordered interim relief directing the railway authorities to offer gratuity and family pension to all employees who joined after January 2004 within four weeks from the date of application and posted the matter for June 1